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Majority of shoppers say that price has the greatest impact on their purchase decisions—but not everyone’s looking for a discount

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Price is not the only driver of sales
Price is not the only driver of sales
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As Amazon Prime Day comes to a close, research shows that, while 57% of shoppers are focussed primarily by price, discounts are not what drives their purchase

As Amazon Prime Day comes to a close, research shows that, while 57% of shoppers are focussed primarily by price, discounts are not what drives their purchases.

 

According to Bluecore’s State of Personal Commerce report, only 36% of shoppers say that discounts have the most impact on their purchase from a brand.

 

This means that the majority of brands that rely on discounts to acquire customers are unnecessarily giving away margin to the 64% of shoppers who are more heavily influenced by other factors: relevant product recommendations (30%), timing of communications (24%) and engaging content (10%).

What has the greatest impact on shopper behaviour? (source: Bluecore)
What has the greatest impact on shopper behaviour? (source: Bluecore)
Choice influencing factors (source: Bluecore)
Choice influencing factors (source: Bluecore)

According to the study, 57% of shoppers say that price has the greatest impact on their purchase decisions. This is followed by recommendation (20%), necessity (16%) and brand (7%).

 

While price is a deciding factor for majority of shoppers, Bluecore warns retailers against using blanket discounts as it creates one-and-done shoppers. Instead brands need to share individualised offers based on customer preferences – such as free shipping, exclusive events – to build loyalty and optimize margins.

 

While 25% of shoppers say that they’re most excited about a purchase when they get a good deal or promotion, even more (30% of shoppers) say that they’re most excited when they purchase a product that is worth the price they paid is most exciting.

 

The US study also shows that Gen Z shoppers care the most about price, while Millennials are influenced by recommendations: Price has the most impact on purchase decisions across all age groups, it has the greatest impact on shoppers ages 18-24 (59%). And among age groups, recommendations have the greatest impact on millennials’ (ages 25-34) purchase decisions (26%).

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